The US Treasury Department has released the fiscal balance report for December 2024.
According to the report, the federal government's budget deficit was $87 billion in the third month of fiscal year 2025, which began on October 1, 2024 and ends on September 30, 2025.
The federal government had a budget deficit of $129 billion in December of the previous year. This means that the budget deficit in December 2024 fell by 33 percent compared to the same month last year.
During this period, the market expected a budget deficit of $80 billion.
While the government's revenue rose 6 percent to $454 billion in December last year, its spending fell 3 percent to $541 billion.
39 percent increase in the three-month budget deficit
In December, the third month of the 2025 fiscal year in the country, the total budget deficit increased by 39 percent compared to the same period last year, reaching $711 billion.
The deficit in question was $510 billion for the same period last year.
While spending rose 11 percent to $1.8 trillion in the first three months of the fiscal year compared to the same period last year, revenue fell about 2 percent to $1.1 trillion.
The US budget deficit rose 8 percent in fiscal year 2024 compared to the previous year, reaching $1.8 trillion. The federal government's fiscal year 2024 budget deficit was the third largest budget deficit in the country's history.
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